Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Here’s Why

Shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down prior to trading on Monday . The stock had previously closed at $87.50, but opened at $78.90. Formula Systems (1985) shares last traded at $78.90, with a volume of 705 shares changing hands.

Formula Systems (1985) Stock Up 2.0 %

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 18.84 and a beta of 1.09. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average price of $79.17 and a 200-day moving average price of $77.51.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Tuesday, August 20th. The technology company reported $1.20 earnings per share (EPS) for the quarter. The firm had revenue of $667.68 million for the quarter. Formula Systems (1985) had a return on equity of 5.21% and a net margin of 2.53%.

Formula Systems (1985) Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a dividend of $0.63 per share. This is an increase from Formula Systems (1985)’s previous Semi-Annual dividend of $0.45. The ex-dividend date of this dividend was Thursday, September 12th. This represents a dividend yield of 1.2%. Formula Systems (1985)’s dividend payout ratio is presently 20.88%.

Institutional Investors Weigh In On Formula Systems (1985)

An institutional investor recently raised its position in Formula Systems (1985) stock. Altshuler Shaham Ltd grew its stake in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,711 shares of the technology company’s stock after acquiring an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent quarter. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.